A friend of mine recently bought a 2002 Audi TT. The car has 2,000 miles on it and he wants to trade straight across for my Type R. He put 10,000 down on it. Here is the tough part. He wants to keep his payments on the Audi and I would keep my payments on the R. He already has the title for his since he got a line of credit for the car. Once the cars were both paid off, we would switch titles. He said he doesent care about the $$ difference (this kid is 18 and has a 2002 Jetta paid off, 97 M3, and has his Audi). How would we do this legally so that we both were protected? And I love my R but trading a $40,000 car for a $18,000 car made sense to me.

 

Why doesn't he sell it and buy an ITR...
Or, sense he has all this cash, just buy and ITR too....

Must be nice...........

 

I dont know. He said he likes my R.

 

So what will you do with it? Sell it?

 

Drive it for awhile and then sell it. Then I would buy a new R or a white s2000.

 

When you say new R do you mean DC5R or DC2R? Cause if were to buy another DC2R I think it would be pointless.

 

Legally speaking, that's dumb. He would own the title to the more expensive car. He could go to court after driving the **** out of your R and then claim the TT was his (which it is, since he has the title).

If he really wants your car, he needs to get a loan for the amount of your car. Pay you with the loan. The loan payment is his responsibility. You give him your car since he paid you.

Then you take over the payments and all paperwork on the TT. It's your car... you can sell it after getting laid a few times...

 

Ahh I figured it out. Ill go and get a line of credit from my bank to pay off my loan with Honda. Ill have the title then, and we can switch titles. He will keep making the payments on the Audi, and I will keep making payments on the R. Im pretty sure this will work.

 

What happens if he doesn't keep paying the line of credit and defaults? You lose the car because the bank most likely will have to repo something for collateral. Unless it's a signature loan where no collateral is needed.

 

I've heard alot of problems with TT's. Theres actually a site a guyu made with all the problems her had. I'll try and find it.

 

http://www.myaudittsucks.com

 

i know there pretty slow and yes have heard they have problems with them.

 

Thanx Stumpy

 

Wow... that Audi Sucks site is brutal..


I want that guy to do my next web site

 

"Trade My R for 02 Audi TT?"

Kiss your momma with that mouth ?!

 

Wow...that's one of the most interesting websites I've ever visited. Too bad there aren't more pics of this guys car with the "stickers" on it.

 

If you do this deal you are asking for trouble. If he has a free and clear title to his car and you can get a free and clear title to yours then switch cars and titles.

If you only switch cars then you are both taking huge chances with insurance. He would be using your insurance for the Type R and your company probably wants to know about any drivers other than you. How much would will your rates go up to put him on your policy?

Don't do this deal. It reeks of scam or stupidity. No one trades a 40,000 new car for a $20K used one is too foolish. If he is not trying to scam you then he is so dumb you would not want to be involved in an extended length business deal with him.

If he really wants your car then offer it to him for 26K. That would cost him lots less then a new TT. You then go out and find a nice R for $22 and pocket 4K

 

yeah, I wouldn't do this deal without having the physical title in your name...sounds fishy, even if you know him...

TT's suck anyway

 

yeah, what Jason said. Exactly.

 

We talked to both banks and the banks are working something out so that we can trade titles. But come on, this kid only owes 16,000 left on it. I owe $18,000 on mine. Its a 2002 with a couple thousand miles, full warranty. So if anything goes wrong I can take it back to the dealer. Plus I can sell it for $37,000 easily, pay off the $18,000 I owe, and do whatever with the extra $19,000.00. That would be a big down payment. S2000? Z06? New type R!!

 

Good Point make the trade sell the Audi, and buy a new type R for say 24K and mod it with the remaining 10k+


[Modified by TypeR 1159, 9:55 AM 12/11/2001]


[Modified by TypeR 1159, 9:56 AM 12/11/2001]

 

You will not be able to sell it. It is not your vehicle.
I lost major amount of money on a deal like that.

 

If it was up to me i would trade. Is the TT convertible its a babe magnet but then i would sell it after driving the **** out of it then get a S2k. What does this kid do or does his parents buy it for him.


[Modified by tonyhondaracing, 11:04 AM 12/11/2001]

 

He used to own a RX7. I guess it blew up or caught on fire or something and he burned his feet. He sued mazda for a large sum and won.